01:29 PM EDT, 03/28/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index falling 1% and the Energy Select Sector SPDR Fund (XLE) down 0.8%

The Philadelphia Oil Service Sector index dropped 2.3%, while the Dow Jones US Utilities index added 0.9%.

Front-month West Texas Intermediate crude oil was declining 0.8% to $69.39 a barrel, and the global benchmark Brent crude contract was shedding 0.5% to $73.66 a barrel. Henry Hub natural gas futures climbed 2.2% to $4.01 per 1 million BTU.

In corporate news, Phillips 66 (PSX) board member Bob Pease, who was appointed with Elliott Investment Management's support, issued a letter to shareholders in which he criticized the activist investor for wanting him off the board now. Phillips 66 shares were down 2.1%.